Sandy Spring Bancorp, Inc. Declares Quarterly Dividend of $0.26 (SASR)
Sandy Spring Bancorp, Inc. (NASDAQ:SASR) announced a quarterly dividend on Wednesday, October 25th, NASDAQ reports. Stockholders of record on Wednesday, November 8th will be given a dividend of 0.26 per share by the bank on Wednesday, November 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, November 7th.
Sandy Spring Bancorp (NASDAQ:SASR) last released its earnings results on Thursday, October 19th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). Sandy Spring Bancorp had a return on equity of 10.71% and a net margin of 24.31%. The company had revenue of $55.44 million during the quarter, compared to analyst estimates of $58.34 million. During the same period in the prior year, the business posted $0.56 earnings per share.
SASR has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Sandy Spring Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Boenning Scattergood reaffirmed a “hold” rating on shares of Sandy Spring Bancorp in a research report on Friday, October 20th. ValuEngine raised shares of Sandy Spring Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub raised shares of Sandy Spring Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.00.
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About Sandy Spring Bancorp
Sandy Spring Bancorp, Inc is the bank holding company for Sandy Spring Bank (the Bank). The Company operates through three segments: Community Banking, Insurance and Investment Management. The Company’s Community Banking segment operates through Sandy Spring Bank and involves delivering a range of financial products and services, including various loan and deposit products to both individuals and businesses.
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